Nashville renters have seen a less competitive market compared with renters in many cities across the country.
According to a recent report from RentCafe, Nashville recorded some of its most renter-friendly market conditions this summer compared with the peak rental seasons of 2023, 2024 and 2025.
According to the report, the center of the rental market has shifted to the Midwest, where Chicago overtook Miami as the nation's most competitive rental market during this year's peak rental season.
Nationally, the rental market reached a Rental Competitiveness Index (RCI) score of 73.9 out of 100 during the peak moving season, down from 74.6 a year ago, according to the report. While the slight decline suggests conditions have eased somewhat for renters,
a score above 70 still indicates a competitive market.
Nashville's RCI score came in at 66.3. The city fell 20 spots in the rankings, dropping from 41st to 61st among 66 large rental markets.
Here's what else to know and how Nashville compares with other markets across the country.
These are the 10 most competitive rental markets in peak rental season 2026
Chicago ranked as the nation's most competitive rental market, earning an RCI score of 91.8, the highest among all markets analyzed. The city averaged about 17 prospective renters for every available unit, while more than 95% of apartments were occupied and vacant units were filled within 27 days.
Limited housing supply continues to drive competition. Newly built apartments account for just 0.27% of the area's rental stock, and apartment deliveries are projected to fall below 4,000 units this year, the lowest level recorded since 2012.
The metropolitan area is also estimated to be short by roughly 165,000 homes, creating intense demand for available rentals.
Miami fell to second place with an RCI score of 89.8, while Silicon Valley ranked third with an RCI score of 85.6 after climbing 10 spots from a year ago.
- Chicago, Illinois (RCI 91.8)
- Miami, Florida (RCI 89.8)
- Sillicon Valley, California (RCI 85.6)
- Manhattan, New York (RCI 85.4)
- Suburban Chicago, Illinois (RCI 85.4)
- Grand Rapids, Michigan (RCI 85)
- Milwaukee, Wisconsin (RCI 83.8)
- Minneapolis-St. Paul (Twin Cities), Minnesota (RCI 81.6)
- Suburban Philadelphia, Pennsylvania (RCI 81.3)
- Suburban Minneapolis-St. Paul, Minnesota-Wisconsin (RCI 81.2)
Nashville remains more renter-friendly than many of the nation's largest rental markets
While some markets have become more competitive during this year's peak rental season, Nashville has moved in the opposite direction.
The city ranked 61st among the nation's largest rental markets, reflecting increasingly renter-friendly conditions.
According to the report, the Nashville metro has added nearly 35,900 apartment units since 2023, helping ease competition. Concessions also remain common, particularly in areas that have seen significant new apartment construction.
The city's RCI score fell from 72.3 in 2025 to 66.3 in 2026, while the average number of prospective renters per vacant unit declined from nine to eight.
Occupancy rates also dipped slightly, from 92.7% to 92%, and vacant apartments remained on the market longer, averaging 42 days compared with 40 days a year ago.
Meanwhile, the share of newly built apartments increased from 1.01% to 1.55%, suggesting that an influx of new supply has helped ease competition for renters. Lease renewal rates remained largely unchanged, inching up from 59.1% to 59.4%.
Methodology
RentCafe analyzed rental data from 139 U.S. markets using Yardi apartment data from market-rate multifamily properties with at least 50 units.
The Rental Competitiveness Index is based on five factors measured during the second quarter of 2026 (April, May and June): occupancy rates, average vacancy length, prospective renters per available unit, lease renewal rates and the share of newly completed apartments.
Markets were categorized as large or small based on inventory size, and fully affordable apartment properties were excluded from the analysis.
Diana Leyva covers trending news and service journalism for The Tennessean. Contact her at Dleyva@gannett.com.
This article originally appeared on Nashville Tennessean: Good news for renters? Nashville drops in rental rankings as competition eases
